Proposed Renovation of Former Jacinto Building - Clark Freeport Zone

15. Bid Prices15.1. The contract shall be for the whole Works, as described in ITB Clause1.1., based on the priced Bill of Quantities submitted by the Bidder.15.2. The Bidder shall fill in rates and prices for all items of the Worksdescribed in the Bill of Quantities. Bids not addressing or providing allof the required items in the Bidding Documents including, whereapplicable, bill of quantities, shall be considered non-responsive and,thus, automatically disqualified. In this regard, where a required item isprovided, but no price is indicated, the same shall be considered asnon-responsive, but specifying a "0" (zero) for the said item wouldmean that it is being offered for free to the Government.15.3. All duties, taxes, and other levies payable by the Contractor under theContract, or for any other cause, prior to the deadline for submission ofbids, shall be included in the rates, prices, and total bid price submittedby the Bidder.15.4. All bid prices for the given scope of work in the contract as awardedshall be considered as fixed prices, and therefore not subject to priceescalation during contract implementation, except under extraordinarycircumstances as specified in GCC Clause 48. Price escalation may beallowed in extraordinary circumstances as may be determined by theNational Economic and Development Authority in accordance with theCivil Code of the Philippines, and upon the recommendation of theProcuring Entity. Furthermore, in cases where the cost of the awardedcontract is affected by any applicable new laws, ordinances,regulations, or other acts of the GOP, promulgated after the date of bidopening, a contract price adjustment shall be made or appropriaterelief shall be applied on a no loss-no gain basis.16. Bid Currencies16.1. All bid prices shall be quoted in Philippine Pesos unless otherwiseprovided in the BDS. However, for purposes of bid evaluation, bidsdenominated in foreign currencies shall be converted to Philippinecurrency based on the exchange rate prevailing on the day of the Bidopening.16.2. If so allowed in accordance with ITB Clause 16.1, the Procuring Entityfor purposes of bid evaluation and comparing the bid prices willconvert the amounts in various currencies in which the bid price isexpressed to Philippine Pesos at the exchange rate as published in theBSP reference rate bulletin on the day of the bid opening.16.3. Unless otherwise specified in the BDS, payment of the contract priceshall be made in Philippine Pesos.20Clark Development CorporationSection II Instructions to BiddersProposed Renovation of Former Jacinto Building(Motorpool, Records, Warehouses and Maintenance Area)